Page 60 - IRS - Owning a Business

4. Report Payments to Contract Workers

Form 1099-NEC Form 1096

Nonemployee Contract Annual Summary and
Compensation. Workders Transmittal of U.S
Information Returns

01 02

• If you have paid any contractors at least $600 for services (including

parts and materials) during the calendar year in which you close your
business, you must report those payments.

• Some filers must file Forms 1099 electronically.

https://lentcpa.com